Ujji­van be­comes sched­uled bank

The Hindu Business Line - - FRONT PAGE -

Ujji­van Small Fi­nance Bank Ltd, a whol­ly­owned sub­sidiary of Ujji­van Fi­nan­cial Ser­vices Ltd, has at­tained the sta­tus of a sched­uled bank. Ujji­van SFB, which com­menced op­er­a­tions as a Small Fi­nance Bank in Fe­bru­ary this year, op­er­ates 65 full-fledged branches in eight States and two Union Ter­ri­to­ries. Samit Ghosh, MD & CEO of Ujji­van SFB, said , “This is a very im­por­tant mile­stone in our jour­ney to trans­form from a mi­cro­fi­nance com­pany to a Small Fi­nance Bank. It com­pletes the tran­si­tion phase which be­gan over two years ago and pro­vides the fi­nal seal of ap­proval from the RBI in set­ting up the Small Fi­nance Bank.” He added that the sta­tus would help the bank gar­ner in­sti­tu­tional de­posits at com­pet­i­tive prices.

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